Karachi, April 07, 2016 (PPI-OT):The Karachi Chamber of Commerce and Industry (KCCI) and Pakistan Chamber of Commerce Hong Kong (PCCHK) Thursday signed a Memorandum of Understanding (MoU) which focuses on exploring the markets in Hong Kong and providing assistance to increase Pakistan’s exports and further improving the existing bilateral trade between the two countries.

The MoU was signed President KCCI Younus Muhammad Bashir and Vice President PCCHK Dr. Ellen Lau at KCCI Pavilion established at the TEXPO Pakistan which is currently underway at Karachi Expo Centre. President KCCI Younus Muhammad Bashir, Senior Vice President KCCI Zia Ahmed Khan, Vice President KCCI Muhammad Naeem Sharif and KCCI Managing Committee held numerous meetings with delegates from Hong Kong, Indonesia, Spain, Portugal, and Kazakhstan.

A 5-member delegation from Hong Kong, which was led by Consul General of Pakistan in Hong Kong Ghufran Memon, expressed keenness to build institutional linkages between the two countries whereas the MoU signed between KCCI and PCCHK should not be just paperwork and it must be transformed into something doable.

The Indonesian delegation led by Vice Chairman of Indonesian Chamber of Commerce and Industry, Mufti Hamka expressed keenness to enhance trade and business ties with Pakistani businessmen and industrialists particularly those associated with garments manufacturing, fashion industry, cotton fibre, synthetic fibre, bed sheets and cotton yarn etc. They said that the business community of Karachi can also benefit from Indonesia’s massive population by setting up their units in Indonesia where they can get many facilities including cheaper electricity.

Furthermore an 8-member delegation from Spain led by Commercial Counsellor of Pakistan’s Embassy in Spain Faiz Ahmed, during its meeting with KCCI Office Bearers and Managing Committee members, informed that they have been enjoying excellent trade and business ties with their counterparts in Pakistan and were looking forward towards further improving their business with their counterparts in Karachi which was the key reason they were encouraged to participate in TEXPO Pakistan.

The Spanish business community prefers to do business with Pakistan as diverse range of high-quality products from different sectors were easily available at competitive rates in Pakistan. On the occasion, Commercial Counsellor of Pakistan’s Embassy in Spain informed that Pakistan’s Embassy has been issuing visas within one day to facilitate visits of Spanish businessmen to Pakistan.

He said that trade between the two countries has improved during the past three years and it was pretty much stable. He asked KCCI to organize visit of a trade delegation to Spain in order to look for opportunities of enhancing trade ties between the two countries. He was of the view that there was a huge potential to enhance trade between Pakistan and Spain by focusing on commodities, dyes, chemicals, textile machinery and ceramics etc. whereas the Pakistani businessmen can also undertake joint ventures in the pharmaceutical sector.

President KCCI Younus Muhammad Bashir, in his remarks to foreign delegates, assured full support of the Karachi Chamber to visiting foreign delegates with a view to improve bilateral trade and to further Pakistan’s trade ties with friendly countries. “The Karachi Chamber can easily be approached 24/7 and we will be more than happy to assist you any time with an intention to bring the business communities more close to each other so that we could collectively work to enhance trade in the ongoing era of recession”, he added.

He informed the delegations that Karachi city has been contributing a massive chunk of more than 65 percent revenue to the national exchequer and has effectively been playing the lead role in the economic development of Pakistan. President KCCI informed that Karachi city offers excellent investment opportunities and the foreigners can also look for undertaking joint ventures in Karachi where law and order situation has greatly improved, resulting in restoring the confidence of businessmen and industrialists who were considering to further expand their businesses.

He also appreciated the Trade Development Authority of Pakistan (TDAP) for organizing TEXPO Pakistan and ensuring large number of foreign delegates in this exhibition which would not only help in enhancing Pakistan’s trade with friendly countries but will also prove very favourable for promoting the positive image of Karachi city which is the financial, commercial, industrial and trading hub of Pakistan.